HK Stock Market Move | POP MART (09992) rose nearly 4% in the afternoon, with an executive from LVMH joining the company's board of directors. Morgan Stanley says it is expected to increase Labubu's appeal.

POP MART (09992) rose nearly 4% in the afternoon, as of the time of writing, it has risen by 3.28% to 195.4 Hong Kong dollars, with a turnover of 1.342 billion Hong Kong dollars. On the news front, on December 11th, POP MART announced that Wu Yue, the President of LVMH Greater China, has been appointed as a non-executive director of the board. Public information shows that Wu Yue has worked at LVMH for 20 years, deeply involved in the channel, membership, and talent system construction of luxury brands in Greater China. Industry insiders pointed out that Wu Yue joining the board of directors of POP MART is an endorsement of the brand, indicating that POP MART is integrating into the core circle of international fashion trends. Morgan Stanley released a research report stating that this personnel change will significantly enhance the company's ability to mobilize high-end fashion resources and enhance the market attractiveness of the core IP Labubu. Analysts pointed out that the market has previously had concerns about the sustainability of Labubu and the company's growth, and Wu Yue's joining sends a signal that the IP has been highly recognized in the fashion industry and is expected to introduce new flow and incremental scenes for POP MART in high-end membership, fashion jewelry collaborations, and other directions.